Foster Farms said this morning that it has completed its previously announced acquisition of a Farmerville chicken plant from Pilgrim's Pride.

Foster Farms agreed to buy the plant for $80 million. the state will contribute $50 million -- half of the purchase price, plus another $10 million toward equipment upgrades.

While initial production at the plant will be about 50 percent of capacity, Foster Farms said it envisions a quick ramp up. The California company is now in the process of hiring management employees.

"The plant upgrades, when operational and used in conjunction with the experienced local work force, will allow us to build a strong sales base, leading to a return to full double shift capacity," Foster Farms CEO Ron Foster said in a prepared statement.

Foster Farms plans to reopen the plant by mid-July. About 1,300 workers lost their jobs earlier this month when the plant was idled. Foster said total employment is projected to exceed 1,100 by September.